This will vary from person to person.  

You may also want to consider any local regulations or restrictions on short term rentals, as these can vary by city and state.In addition to demand and regulations, it's important to carefully evaluate the financial viability of any potential investment.

The seller will then transfer ownership of the property to you.Again, it is important to note that the specific steps and documentation required for buying a property directly from the seller may vary depending on the laws of your state and local area, as well as the specific terms of the sale.

Wholesaling in many states - including mine - is considered the unlicensed practice of real estate and it comes with a whole lot of bad: "Unlicensed practice of real estate is a third-degree felony punishable in criminal court, for each violation, by up to five years in prison and $5,000 in fines."

If you manage your own, the rental ordinances vary per city, so I would check on that to begin with. 

@Patrick ReaganThe worst case scenario will vary by jurisdiction.

These properties vary wildly in size and condition.

I dedicated myself to learning the principles and practices of real estate investing, which included reading three of Brandon Turner’s books, listening to varies real estate podcasts, and as of recently, becoming a BiggerPockets Pro Member.

From what I have gathered it's just not a good state to do it in but your mileage may vary.

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